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245 5th Avenue

The Moinian Group Leases 4500 SF Commercial Space To Teremana In Nomad At $65/ft
LEASEDCommercial

The Moinian Group Leases 4500 SF Commercial Space To Teremana In Nomad At $65/ft

245 5th Avenue

$65

$65/SF

Building Size

4,500 SF

Asset Type

Commercial

Closing

Jan 12, 2024

AI

The commercial property located at 245 5th Avenue in the Nomad market has been leased. The asset spans 4,500 square feet and was leased by Teremana (Siete Bucks Spirits) from The Moinian Group. The asking rent for the lease was $65 per square foot.

Summary of transaction details:

  • Property Type: Commercial
  • Transaction Amount: Lease
  • Address: 245 5th Avenue
  • Market: Nomad

The landlord, The Moinian Group, was represented by Ron LoRusso, Pierce Hance, Harley Dalton, and Peter Kerans from Cushman & Wakefield. Yossi Capland from Compass represented the tenant, Teremana (Siete Bucks Spirits).

Players

Pierce Hance

Cushman & Wakefield

Broker

11 deals

Broker

New York Commercial Market Snapshot

Boundary boundary · Commercial · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

244046.15%

Cash-on-Cash

-69749.14%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93